You're working with buyers who are close to being financially ready to buy. To prepare themselves for loan approval, they should __________.
Delay paying bills with high-dollar amounts to show better available cash
Pay down credit card balances
Pay off and close all but one or two credit cards
Take out a home equity line of credit to pay off credit card debt
Answers
To prepare themselves for loan approval, buyers who are close to being financially ready should pay down credit card balances.
This will help improve their credit score and debt-to-income ratio, making them more attractive to lenders.
Improves Credit Score: Credit card balances, also known as credit utilization, play a crucial role in determining credit scores. High credit card balances can negatively impact credit scores, as it suggests a higher risk of being unable to manage credit responsibly.
By paying down credit card balances, buyers can lower their credit utilization, which can result in an improved credit score. A higher credit score is generally seen as more attractive to lenders, as it signals a borrower's creditworthiness and responsible credit management.
Lowers Debt-to-Income Ratio (DTI): Another important factor that lenders consider when evaluating loan applications is the debt-to-income ratio (DTI). DTI is the percentage of a borrower's monthly gross income that goes towards debt payments.
Lower DTI ratios are preferred by lenders, as they indicate that a borrower has a lower level of debt relative to their income, which reduces the risk of default.
By paying down credit card balances, buyers can reduce their overall debt, which in turn lowers their DTI ratio, making them more appealing to lenders.
Increases Loan Eligibility: Lower credit card balances and improved credit scores can increase a buyer's loan eligibility. Lenders typically use credit scores and DTI ratios as key criteria to determine whether a borrower qualifies for a loan and at what interest rate.
By improving these factors through paying down credit card balances, buyers may be able to qualify for loans they might have otherwise been denied or obtain loans at more favorable terms, such as lower interest rates. This can potentially save them money over the life of the loan.
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Related Questions
explain the reasons why socio economic issues pose challenges to businesses
Answers
Answer:
Some of the factors and their connection to businesses: Interest Rates. Interest rates are everywhere, and are imposed by many different people. ... Genetics.
Greg and Jerry are depositing money into savings accounts. Greg deposits $500 into an account
for 2 years with 2% interest. Jerry despots $700 into a different account for 1 year with 3% interest.
Who eams the greatest overall percent interest? Show your work and explain.
Answers
Answer: Jerry
Explanation:
Greg deposits $500 into an account for 2 years with 2% interest, the interest gotten will be:
= $500 × 2 × 2%
= $500 × 2 × 0.02
= $20
Jerry despots $700 into a different account for 1 year with 3% interest, the interest gotten will be:
= $700 × 1 × 3%
= $700 × 1 × 0.03
= $21
Based on the calculation, Jerry makes a greater interest.
Imagine that you have no money and you have to leave home and live by yourself. Make a list of the ten most important things that you would take with you and explain why.
Answers
Answer:
food clothes water
Explanation:
their the basic needs of an individual
the ________ value of an item is the actual amount of money buyers are willing to pay for it.
Answers
The market value of an item is the actual amount of money buyers are willing to pay for it.
The market value is determined by the forces of supply and demand, where the price of an item will increase if demand is greater than supply, and decrease if supply is greater than demand.
Market value can also be influenced by other factors such as the quality of the item, competition, and external economic factors.
Understanding the market value of an item is important for both buyers and sellers, as it can help determine a fair price and ensure that both parties are satisfied with the transaction.
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Explain why most experts believe that official U.S. data underestimate the actual rate of unemployment. What factors could make the official rate overstate the actual unemployment rate
Answers
Answer:
people simply quit looking for jobs.
Explanation:
In order to be considered unemployed, you must be out of work for at least four weeks and be actively seeking a new job. But if after 6 months, or 1 or even 2 years, you cannot get a new job, then you might simply quit looking for one. Since you quit looking for a job, you are not considered unemployed.
The ________ mark is a certification that is granted to products that are determined to promote sustainable farming and provide higher prices and improved social and environmental standards for producers, typically in developing countries.
Answers
The word referred to above is called the Fairtrade Mark. The purpose of this mark is to enable consumers to encourage sustainable farming practices by buying produces that has such a mark.
Who issues the Fairtrade Mark?The Fairtrade Certification which is issued by a third-party auditor called FLOCERT is used to identify companies that have manufactured products that comply with Fairtrade's international standards.
The Fairtrade mark standards look at three major areas:
Environmental StandardsEconomic standardsSocial standardsPlease see the link below for more about Fairtrade Mark:
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Exquisite Décor, LLC, a seller of decorative house wares based in New York, imports and sells tapestries from a designer in Turkey. Each shipment of tapestries is sold for the price of $10,000. The tapestries are produced in Ankara and then transported by train to Istanbul for delivery to the U.S. by ship at a total cost of $800 per shipment. Once delivered to the Port of New York, the tapestries are delivered by truck to Exquisite’s warehouse in Buffalo at a cost of $100 per shipment. The invoice also lists a copyright licensing fee of $500, insurance of $200, packing costs of $500, and a commission of $1,500 paid to Exquisite’s buying agent. Exquisite is expecting delivery of one shipment. The invoice separately lists each of the above charges. What is the dutiable value of this shipment of tapestries to be reported at the time of entry?
A. $13,700.
B. $13,600.
C. $11,000.
D. $12,500
What is included in the calculation?
Answers
To determine the dutiable value of the shipment of tapestries, need to consider the elements. The dutiable value is the basis for determining customs duties and taxes imposed on imported goods.
In this scenario, the following elements are included in the calculation of the dutiable value:
Cost of the tapestries:
The shipment of tapestries is sold for $10,000. This amount is considered as part of the dutiable value.
Delivery costs:
The cost of delivering the tapestries from the Port of New York to Exquisite's warehouse in Buffalo is $100. This cost is included in the dutiable value.
Transportation costs:
The transportation cost from Ankara to Istanbul is not relevant for the dutiable value calculation since it occurs within the exporting country (Turkey). Only transportation costs from the exporting country to the importing country (the U.S.) are included. The cost of transporting the tapestries by ship from Istanbul to the Port of New York is $800. This cost is part of the dutiable value.
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????? yeah I need help again
Answers
Answer: A. sales and stock managers
Explanation:
Question 6 (Personal finance help urgently
Answers
Check which of the following are good tips for cutting down on impulse buying:
Statement: Good: Bad:
When you're going shopping, take a list, and stick to it!
Ask yourself, "Do I need this, or do I just want this?"
Always buy the newest model of something the minute it comes out.
Always grab the brand name product first!
Plan big-deal buys like a computer or a car—never buy them on impulse.
Don't be a fashion groupie—resist this month's "in" look.
Don't let small money burns keep you from making big but good money burns.
Don't ever question a seller's motive.
Answers
Answer:
Statement: Good: Bad:
When you're going shopping, take a list, and stick to it!
Good
Ask yourself, "Do I need this, or do I just want this?
Good
Always buy the newest model of something the minute it comes out.
Bad
Always grab the brand name product first!
Bad
Plan big-deal buys like a computer or a car—never buy them on impulse. Good
Don't be a fashion groupie—resist this month's "in" look.
Good
Don't let small money burns keep you from making big but good money burns.
Good
Don't ever question a seller's motive.
Bad
Explanation: Just got right.
When you're going shopping, take a list, and stick to it!
GOOD
WHY?
Shopping lists aid in the reduction of purchases made while shopping. Shopping lists tend to reduce purchases because they remind shoppers of their goals and highlight unplanned purchases.
Ask yourself, "Do I need this, or do I just want this?"
GOOD
WHY?
"Want" means to have a strong desire to own or do (something). "Need" means require (something) because it is necessary or extremely important rather than merely desirable. We should invest a bigger part of our capital into what we need rather than spending it on what we want.
Always buy the newest model of something the minute it comes out.
BAD
WHY?
Every product launches a new and upgraded version of its previous products at regular intervals. Hence, if we always try to keep up with the upgrades irrespective of their requirement in our lives presently just for the sake of the trend, we over-spend.
Always grab the brand name product first!
BAD
WHY?
90% of the time can get the same quality products at much more affordable rates from smaller brands. At times we don't pay for the quality of the product, rather we just pay for the brand name.
Plan big-deal buys like a computer or a car—never buy them on impulse.
GOOD
WHY?
Research, saving up, and looking for offers and better alternatives are all parts of planning. It's better to carry all these out before making such expensive investments.
Don't be a fashion groupie—resist this month's "in" look.
BAD
WHY?
Being a fashion groupie just to keep up with the trends and people-pleasing does nothing more than heightening your expenses because fashion trends are never-ending.
Don't let small money burns keep you from making big but good money burns.
GOOD
WHY?
It's always better to make a big investment in a better quality product rather than compromising the quality just for the sake of prices and then spend again and again on repairing it and buying another one after a short period.
Don't ever question a seller's motive.
BAD
WHY?
It's a seller's sole motive to make a profit out of every smallest thing possible and we should keep in mind that in this case, a seller would prioritize his profit more than the consumer's right over a good quality product.
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Look at this monthly budget. Monthly Budget A 2-column table has 10 rows. The first column has entries net income, total income, rent, train pass, total fixed, food, clothing, discretionary, total variable, savings. The second column is labeled budgeted with entries (in dollars) 600, 600, negative 300, negative 30, negative 330, negative 100, negative 40, negative 50, negative 190, 80. Next month, Tokuji's monthly net income will increase to $650. If he increases his savings to $110 a month, how much can he increase his discretionary spending? $20 $10 $40 $30.
Answers
If the budget holder increases his savings to $110 per month with an increased net income of $650, he can increase his discretionary spending by A. $20.
Data and Calculations:
Monthly Budget
Item Description Current Next Income
Month Month Increase
Net income $600 $650 $50
Total income 600 650 50
Rent -300 -300 0
Train pass -30 -30 0
Total fixed -330 -330 0
Food -100 -100 0
Clothing -40 -40 0
Discretionary -50 -70 20
Total variable -190 -210 20
Savings 80 110 30
If the budget holder increases his savings to $110 per month with an increased net income of $650, he can increase his discretionary spending by A. $20.
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Answer:
Confirming it is A
Explanation:
I made a 100 on the test(Edge 2022)
I NEED HELP PLS DONT RESPOND WITH A LINK
_______ used the terms Theory X and Theory Y to describe different attitudes managers had about employees.
Douglas McGregor
Victor Vroom
Elton Mayo
Robert Colby
Answers
What was Roosevelt's recovery program called?
Answers
Roosevelt's New Deal Recovery programs focused on stabilizing the economy by creating long-term employment opportunities
What was Roosevelt's recovery program?Decreasing agricultural supply to drive prices up, and helping homeowners pay mortgages and stay in their homes, which also kept the banks solvent.The New Deal had three goals relief, recovery, and reform. Relief meant that the president wanted to help those in crisis immediately by creating jobs, bread lines, and welfare. The name of the project of President Franklin Roosevelt’s domestic program which spurred economic recovery in the United States is:According to the given question, we are asked to state the name of the project of President Franklin Roosevelt’s domestic program which spurred economic recovery in the United States.The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939.As a result of this, we can see that the New Deal program was a series of programs and projects which were initiated by the Federal Government to help reduce the economic crunch in the country and they managed to do so successfully.To learn more about recovery program refer to:
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FILL THE BLANK. the reason many cities, states, universities, and some nations are starting to divest of fossil fuel companies in their investment portfolios is ___.
Answers
The reason many cities, states, universities, and some nations are starting to divest of fossil fuel companies in their investment portfolios is multifaceted.
Firstly, there is a growing recognition of the urgent need to address climate change and transition towards a sustainable future.
Fossil fuels are the primary contributors to greenhouse gas emissions, exacerbating global warming and its associated environmental and social impacts.
Divestment serves as a powerful symbolic statement, aligning financial decisions with climate goals and signaling a commitment to renewable energy and clean technologies.
Secondly, divestment is seen as a prudent financial strategy.
Fossil fuel investments are increasingly considered risky due to factors such as fluctuating oil prices, regulatory uncertainties, and potential stranded assets.
By divesting, institutions can protect their portfolios from potential financial losses and reduce exposure to a declining industry.
Furthermore, divestment campaigns have gained momentum as a result of increased public awareness and pressure for institutions to demonstrate ethical and responsible investment practices.
Climate activists, students, and community groups have mobilized to push for divestment as a means to challenge the influence of fossil fuel companies and promote more sustainable alternatives.
Overall, divestment represents a crucial step towards addressing climate change, managing financial risks, and aligning investments with societal values and environmental imperatives.
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What are the 3 components of a claim?
Answers
There are three elements that you must prove in order for your claim to be successful: the defendant owed you a duty of care, the defendant breached that duty, you suffered an injury or loss as a result.
Define loss?A loss in financial accounting is a decline in net income that occurs outside of the regular course of business.
Losses can be caused by a variety of actions, including the selling of an asset for less than its carrying value, asset write-downs, or litigation losses.
When you lose money operating your business, you are spending more than you are earning.
Businesses sometimes experience temporary losses when they first launch or during periods of expansion. This is OK if you have enough cash on hand to cover operating expenses while waiting for a boost in revenue.
The income statement's bottom line, following all the line items for revenues and expenses, shows the net loss.
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why is maximum number of person in partnership business mentioned in companies act and not in partnership act
Answers
The Companies Act and the Partnership Act are two different laws that govern different types of businesses.
The companies act and partnership act-The Companies Act governs companies, which are separate legal entities from their owners, while the Partnership Act governs partnerships, which are not separate legal entities from their owners.
The maximum number of persons in a partnership business is not mentioned in the Partnership Act because there is no limit to the number of partners a partnership can have. However, the Companies Act limits the number of members in certain types of companies, such as private companies, to a maximum of 200 members. This is because companies are separate legal entities and the law seeks to regulate their operations to ensure that they operate in a manner that is fair and transparent to all members.
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The Fed buys $10 million of securities from AIG. AIG has a desired reserve ratio of 0.05, and there is no currency drain.
As soon as the open market purchase is made, the bank's excess reserves are at $___ million
Answers
Answer:
$200,000,000
Explanation:
Given that:
Amount of securities purchased = $10 million
Desired reserve ratio = 0.05
The bank's excess reserve :
Money multiplier * amount of securities purchased
Money multiplier = 1 / reserve ratio
Money multiplier = 1 / 0.05 = 20
Excess reserve = 20 * $10,000,000
Excess reserve = $200,000,000
free hhahahahahhaha ok just for yalll
Answers
Answer:
why?
Explanation:
Answer:
nice thanks mark me brainiest
Explanation:
Without robots with robots single-factor productivity (picks per $) fill in the blank 2 fill in the blank 3 overall multiple-factor productivity (picks per $) fill in the blank 4 fill in the blank 5 what can you conclude? if robots were leased, the single-factor productivity increases and the overall multiple-factor productivity increases
Answers
Without robots: single-factor productivity (picks per $) = fill in the blank 2, overall multiple-factor productivity (picks per $) = fill in the blank 3
With robots: single-factor productivity (picks per $) = fill in the blank 4, overall multiple-factor productivity (picks per $) = fill in the blank 5.Based on this information, we can conclude that the introduction of robots in this scenario has led to an increase in both single-factor productivity (picks per $) and overall multiple-factor productivity (picks per $). This suggests that the robots have helped to increase the efficiency and output of the process. Additionally, the fact that the robots are leased rather than purchased outright suggests that the company may have found leasing to be a more cost-effective way of introducing robots into their process.
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How long do cross-departmental teams work together?
Answers
Answer:
First, department heads should be modeling cross-departmental collaboration by regularly and visibly engaging with each other – and with each other’s teams. If they notice that their department is becoming too isolated or is hesitant to collaborate with others, these leaders should be the first to start building bridges, and not just directing others to do so. Second, you need a mechanism in place to effectively collect employee feedback, in a way that makes employees feel safe from any negative consequences for speaking up.
Explanation:
Hope this helped! :)
A machine operator can program machine #1
Answers
Answer:
yes they can i believe you can achieve anything if you put your mind to it...
Explanation:
Education required for an animator
Answers
Answer: A bachelor's degree in an art related field
Explanation: Like most art related careers, you need a strong art portfolio to getting an art related job.
Which of the statements about subprime lending is false? The risks associated with subprime lending increase as the likelihood of falling home prices increase. If a home owner is unable to afford the mortgage payments, the homeowner can always pay off the mortgage by selling the home. Subprime lending occurs when financial institutions issue loans to individuals who are less likely to be able to repay their loan than individuals who meet a set of standards. Before the 2008 financial crisis, financial institutions increased the number of subprime loans they issued as home prices continued to rise
Answers
The statement on subprime lending that is false is B. If a home owner is unable to afford the mortgage payments, the homeowner can always pay off the mortgage by selling the home.
Why can the homeowner not make back the money ?"If a homeowner is unable to repay the mortgage payments, the homeowner can always pay off the mortgage by selling the home," is a misleading assertion about subprime lending.
This statement is not necessarily true because falling home prices can make it difficult for homeowners to sell their homes for a price that will cover their outstanding mortgage balance. In fact, during the 2008 financial crisis, many homeowners were unable to sell their homes and were left with unaffordable mortgage payments, leading to a wave of foreclosures and defaults on subprime loans.
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When identifying your interests as you prepare to conduct your job search, what questions should you ask yourself
Answers
Which tend to be more volatile, short- or long-term interest rates?.
Answers
Answer:
Short-term rates
Explanation:
are more volatile than long-term rates and move more quickly than long-term rates
Which financial institution protects individuals by insuring bank deposits?
Answers
The Federal Deposit Insurance Corporation is the financial entity in the United States that safeguards private citizens by guaranteeing bank deposits (FDIC).
The FDIC is a separate branch of the American government that was founded in 1933 in reaction to the Great Depression's numerous bank failures. Up to a predetermined cap per depositor per insured bank, the FDIC offers deposit insurance coverage to depositors in the event of bank failures. This insurance contributes to the stability of the banking system and the protection of depositors' money. Great Depression's numerous bank failures. Up to a predetermined cap per depositor per insured bank, the FDIC offers deposit insurance coverage to depositors in the event of bank failures. financial institution protects individuals by insuring bank deposits.
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wages such as health insurance are the nonmonetary compensation an employer gives an employee
true or false
Answers
which sentence written correctly
-He didn't have no money
-i didn't have no money
Answers
Answer:
To be honest none sound good, they should replace no with any, but if I'd have to choose it'd be the second one.
Starbucks ability to create a unique customer experience with worldwide consistency is an example of what type of generic competitive strategy?A. focus strategyB. differentiation strategyC. a grandiose strategyD. a benchmarking strategyE. cost-leadership strategy
Answers
Starbucks' ability to create a unique customer experience with worldwide consistency is an example of a differentiation strategy. The correct option is b. differentiation strategy.
A differentiation strategy is when a company sets itself apart from competitors by offering a unique product or service that customers value and are willing to pay more for. In the case of Starbucks, they differentiate themselves from other coffee shops by offering a premium experience that includes high-quality coffee, cozy atmosphere, friendly service, and personalized drinks.
This differentiation strategy has allowed Starbucks to create a loyal customer base that is willing to pay premium prices for their products. Additionally, Starbucks' ability to maintain this unique customer experience with consistency worldwide is impressive, as it requires a high level of standardization and operational efficiency. By maintaining this differentiation strategy, Starbucks has been able to stay ahead of competitors in the crowded coffee market and establish itself as a global leader in the industry.
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Starbucks is a prime example of a differentiation strategy because of its ability to consistently deliver a distinctive customer experience across the globe a corporation uses a differentiation strategy. The correct answer is b. differentiation strategy.
when it wants to stand out from rivals by providing a special good or service that clients value and are ready to pay extra for. Starbucks sets itself apart from other coffee shops by providing a premium experience that includes fine coffee.
A welcoming ambiance, warm service, and customised drinks. Starbucks is a prime example of a differentiation strategy because of its ability to consistently deliver a distinctive customer experience across the globe. Differentiation strategy is the best answer. A corporation uses a differentiation strategy when it wants to stand out from rivals by providing a special good or service that clients value and are ready to pay extra for. Starbucks sets itself apart from other coffee shops by providing a premium experience that includes fine coffee, a welcoming ambiance, warm service, and customised drinks.
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A bond offers a coupon rate of 6%, paid annually, and has a maturity of 8 years. Face value is $1,000. If the current market yield is 6% (discount rate), what should be the price of this bond? Enter your answer in terms of dollars and cents, rounded to 2 decimals, and without the dollar sign. That means, for example, that if your answer is $127.5678, you must enter 127.57
Answers
To calculate the price of the bond, we can use the formula: P = C * (1 - (1 + r)^-n) / r + FV / (1 + r)^n.
the price of the bond should be $1,032.78, rounded to two decimals.
where P is the price of the bond, C is the annual coupon payment, r is the discount rate, n is the number of years to maturity, and FV is the face value.
In this case, we have C = $60 ($1,000 x 6%), r = 6%, n = 8, and FV = $1,000. Plugging in these values, we get:
P = $60 * (1 - (1 + 0.06)^-8) / 0.06 + $1,000 / (1 + 0.06)^8
= $60 * 5.2067 / 0.06 + $1,000 / 1.5938
= $1,032.78
So the price of the bond should be $1,032.78, rounded to two decimals.
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